Reuters

Amid Cash Crunch, Qatar Sovereign Wealth Fund May Start Liquidating Stock Holdings

Since we first highlighted the cash-crunch in Qatar over a week ago, the situation has got notably worse (as liquidity costs rise further, signalling Qatar's financial system is running out of dollars), and now Qatar's sovereign wealth fund has reportedly transferred over $30 billion worth of its domestic equity holdings to the finance ministry and may sell other assets as part of a restructuring drive.

ISIS Blows Up Historic Grand al-Nuri Mosque In Mosul

The Islamic State on Wednesday night destroyed the famous Grand al-Nuri Mosque located in Mosul, best known for its leaning minaret, known as the "hunchback" and one of Iraq’s most famous landmarks.

Frontrunning: June 21

  • Republican Handel Wins Georgia House Seat, Dashing Democrats’ Hopes (BBG)
  • Uber CEO Kalanick Quits as Investors Revolt (WSJ)
  • Saudi King’s Surprise Shakeup Clears Son’s Path to the Throne (BBG)
  • After weeks of secrecy, U.S. Senate to unveil healthcare bill (Reuters)
  • Latest Election-Hacking Hearings to Focus on State-Level Events (WSJ)

Uber CEO Kalanick Quits Following "Investor Revolt"

Ten days after we reported that "Uber was imploding", when the company's Chief Business Officer resigned at the same time as the CEO announced a leave of absence, the "Uber collapse" was complete when Uber CEO Travis Kalanick, co-founder of the world's most valuable private company, announced his resignation on Tuesday following an "investor revolt" over his catastrophic leadership.

NTSB Absolves Tesla's "Autopilot" In Death Of Former Navy SEAL

In what looks like vindication for Elon Musk and Tesla’s autopilot software, the National Transportation Safety Board has ruled that a fatal crash involving a Tesla Model S sedan that occurred in Florida last year was the result of human error.

Frontrunning: June 20

  • Central bank caution beefs up stock gains (Reuters)
  • Pound Drops as BOE's Carney Says Not Yet Time to Raise Rates (BBG)
  • Oil Just Hit Its Lowest Level of the Year (BBG)
  • Britain charges Barclays, ex-bosses over 'unlawful' Qatari deal (Reuters)
  • Senate GOP Sets Ambitious Deadline on Health-Care Vote (WSJ)